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Published on 24/01/2020 5:18:48 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 24 January 2020 By Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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Gold

Technical Commentary

Ensuing buying sentiments likely to be upheld in the upcoming session towards the 40280 followed by the next upside hurdle of 40450. But the there is equal chance of a prices fall once prices settled below 39900.

 

Silver

Technical Commentary

Intraday move is expected to be northbound with an immediate price objective of 46600 then to 47000 region. But unexpected fall below the Bollinger lower band level of 45700 may seize down prices lower.

 

Crude Oil

Technical Commentary

Pattern break out and indicators point for further weakness towards the Bollinger lower band level of 3895 and 3850 there after. Intraday prices recovery could see only above 4010 region.

 

Natural Gas

Technical Commentary

Broad selling still intact and possibly to persist towards 132.20 then to 129.40. In this dreary picture, direct rise above the EMA level of 138.20 could push prices higher.

 

Copper

Technical Commentary

Prices still have room for selling momentum may stretch towards 443 then to trend line support of 440 region. But decisive trades above 446.30 could lift prices higher.

 

Nickel

Technical Commentary

Next stage of selling could see only below 993. Else hold the same for a price retreat towards internal trend line resistance of 1012 followed by 1026.

 

Zinc

Technical Commentary

Current weakness may stretch lower towards the Bollinger lower band level of 178.90 then to 178. But direct rise above 181 could push prices higher.

 

Lead

Technical Commentary

Promising trade below 150.60 may grab prices lower. If it remained unbroken could call a price recovery towards 152 followed by the EMA level of 152.60.

 

Aluminium

Technical Commentary

Weakness may continue in the coming session towards the price objective of 138.50 then to 137.70. But convincing trades above SMA level of 140.75 may lift prices higher.

 

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